Russia is stepping up oil exports from its main eastern port to meet growing demand from Asian buyers and offset the impact of European Union sanctions, three knowledgeable sources told Reuters.
Moscow has said it intends to reroute its energy exports from the West to Asia, which are expensive through major shipping routes but also complicated by sanctions.
According to Reuters sources, the Russian state-owned company Transneft has already increased the amount of crude oil it supplies to the eastern port of Kozmino, over South Korea, via the East Siberia Pacific Ocean (ESPO) pipeline.
In particular, the amount has increased by 70,000 barrels per day (bpd) using additional chemicals that accelerate oil flows.
It is noted that Transneft did not respond to a request for comment from Reuters.
According to the same sources, Moscow also plans to send to Kozmino an additional 80,000 barrels per day by rail, a route that was used to supply local refineries during the construction of the ESPO pipeline.
The additional supplies will allow the total load from Kozmino to increase to about 900,000 barrels per day in the coming months, from 750,000 average so far this year.
It is noted that in 2021 Kozmino loaded about 720,000 barrels per day (35.1 million tons).
According to two Reuters sources, Moscow’s goal is for oil exports through Kozmino to reach a record high of 880,000 barrels per day in July.
It is recalled that companies from China – which has repeatedly criticized Western sanctions on Russia – and India have been buying increased quantities of Russian crude in recent months.
A Reuters source told the agency that the port of Kozmino could handle loads of 1.1 million barrels per day, but the limited capacity of the ESPO pipeline and the railways could not allow such a level without further work. improvement.
Source: Capital
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